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August 17th - According to Irans Tasnim News Agency, Irans Minister of Agriculture stated: "Despite numerous problems and difficulties in recent months, there are no threats to food security, and the enemy has lost hope in this area. There has been no panic buying by the public in recent months. Based on the credibility built over the past 14 months, and the contingency plans and forward-looking arrangements implemented by the government and various levels of authority, food security will remain stable. Most affairs in the agricultural sector are now integrated into intelligent systems and under comprehensive control. Our assertion of perfect food security is based on a complete grasp of information systems. Nevertheless, we acknowledge that the public still bears a heavy economic burden due to factors such as war, blockades, rising prices, increased insurance and transportation costs, and fluctuations in international market prices."Irans Agriculture Minister: Despite the numerous problems and difficulties faced in recent months, there are no threats to food security, and the enemy is desperate in this area.The China Earthquake Networks Center officially determined that a magnitude 2.5 earthquake occurred at 14:15 on August 17 in Lixian County, Longnan City, Gansu Province (33.92 degrees north latitude, 104.95 degrees east longitude), with a focal depth of 10 kilometers.August 17th - AstraZeneca announced the official launch of Tezspire® (generic name: teszelinumab injection) in China. Based on positive results from the DIRECTION and WAYPOINT Phase III clinical trials in March 2026, teszelinumab received approval in China for two indications: maintenance therapy for severe asthma in adults and adolescents aged 12 years and older; and for use in combination with nasal corticosteroids to treat adult patients with chronic rhinosinusitis with nasal polyps (CRSwNP) whose disease is not adequately controlled by systemic corticosteroids and/or surgery.On August 17th, Daiwa Securities economist Kento Minami stated that given the weak economic growth data released on Monday, the Japanese government is unlikely to announce a formal exit from deflation in the current fiscal year ending March 2027. The Sanae Takaichi government previously stated that it would closely assess whether the Japanese economy is strong enough to avoid falling back into deflation before formally announcing the end of deflation. The market is closely watching the timing of the governments announcement, as it could influence the governments attitude towards further tightening monetary policy by the Bank of Japan. Minami stated that the fundamentals of the Japanese economy are improving, and key indicators such as the inflation rate, output gap, and unit labor costs also suggest that the risk of Japan falling back into persistent deflation is low.

U.S. Congress Leans Toward Massive China Competition Bill And Votes on Iran

Charlie Brooks

May 05, 2022 10:14

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The United States Congress moved closer to finalizing a long-stalled bill allowing hundreds of billions of dollars to bolster the country's ability to compete with Chinese technology on Wednesday, with Senate votes on a variety of subjects, including Iran policy.


Although the motions are not binding, they provide insight into what senators want to see in the final bill and what would prevent it from receiving enough votes to become law.


Republicans used debate on the bill to offer motions weighing in on President Joe Biden's efforts to renegotiate the international nuclear deal with Iran, which passed with support from several Democrats.


Republicans were unified in their opposition to the 2015 nuclear deal.


Senators voted 62-33 on a "Motion to Instruct" that, if passed, would prevent the Biden administration from eliminating Iran's Revolutionary Guard Corps' terrorist status, a roadblock to restarting the nuclear accord.


Additionally, the Senate voted 86-12 in favor of a resolution declaring that sanctions against Iran related to terrorism are vital to rein in China's assistance with Iran.


Such measures might complicate delicate nuclear deal negotiations, but western officials have largely abandoned optimism that the deal can be restored following then-Republican President Donald Trump's 2018 withdrawal.


They also have the potential to complicate the passage of the China competition measure, which has been wending its way through Congress for a year.


Senate passed the first version in June 2021, with overwhelming bipartisan backing. The $250 billion package was heralded as the most significant government intervention in manufacturing in decades, but it was delayed in the House.


In February 2022, the House enacted its version, the "America COMPETES Act of 2022." Except for one Republican in the chamber, every Republican voted nay.


Nearly $300 billion is authorized for research and development under the COMPETES Act, including $52 billion to subsidize semiconductor manufacture and research.


After the Senate votes on all 28 Motions to Instruct, House and Senate lawmakers will begin their conference on a final COMPETES Act. Aides to Congress anticipated months of negotiations.